Are you overwhelmed by the amount of data generated by your non-bank financial institution?
Do you worry about not identifying and reporting patterns of suspicious activity or other requirements of the Bank Secrecy Act?
The Financial Crimes Enforcement Network (FinCEN) and other federal and state regulators have levied fines totaling hundreds of millions of dollars for not properly identifying suspicious activity.
Enter the Dowling Advisory Group and our data analytics outsourcing service. With this service, DAG can assist you with analyzing the disparate and voluminous data generated by your casino or MSB to identify potentially suspicious activity. We will bring our data analysis expertise to you for less than the cost of one experienced compliance analyst, and you don’t have the hassle of personnel issues. The best use of compliance is evaluating and investigating results, not fumbling through data.
Based on your individual risks, we will work with you to develop detection scenarios that will help identify suspicious activity. We will then work with your IT Department to obtain normalized data extracts. DAG will then take the raw data and give you a simple workbook of potentially suspicious activity that your compliance team can quickly investigate to determine if they should file a Suspicious Activity Report.
Advantages of using DAG
- We are experts in data analysis and the identification of suspicious activity for Casinos and MSBs
- We have trained and provided data analysis training/demos for the IRS, DOJ and FinCEN
- We can test 100% of your data, just like the IRS
- Our services cost less than one compliance analyst
- Our services are scalable
- You can modify your detection scenarios as your risks change without additional charges
Contact DAG today for your free estimate!